Data as of Oct 28, 2026.
VBR vs VNQ: Differences, Returns & Fees
Over the year to Oct 28, 2026, VBR returned +17.6% to VNQ's +4.8%; 10% of their weight is in the same names.
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Net assets on Sep 30, 2026: $35.1bn for Vanguard Morningstar Small-Cap Value ETF and $35.9bn for Vanguard Real Estate ETF.
Pair scorecard
VBR costs 0.08 points a year less; their one-year returns differ by 12.8 points.
| Measure | VBR | VNQ |
|---|---|---|
| Return | ||
| Total return, 1 year | +17.6% | +4.8% |
| Drawdown | ||
| Below its high | 3.9%, high on Aug 14, 2026 | 8.3%, high on Jul 28, 2026 |
| Benchmark | ||
| What it tracks | Morningstar US Small Cap Value Index | MSCI US Investable Market Real Estate 25/50 Index |
| Cost and size | ||
| Expense ratio | 0.05% | 0.13% |
| Net assets, as of Sep 30, 2026 | $35.1bn | $35.9bn |
| Holdings | ||
| Holdings in common | 10% | |
| Top ten holdings, share of the fund | 5.9% | 55.8% |
Holdings in common uses holdings dated Sep 30, 2026. Method
Risk and return
Oct 8, 2004 to Oct 23, 2026 · 1,150 weekly returnsVBR returned more: +628.6% to +364.5%. VBR swung less: 22.0% to 25.0%. VBR fell less at its worst: −61.3% to −72.5%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | VBR | VNQ | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +628.6% | +364.5% | VBR | Price change plus distributions, reinvested. |
| Annualized | +9.4% | +7.2% | VBR | Total return as a yearly rate. |
| Price return | +354.2% | +80.5% | VBR | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 22.0% | 25.0% | VBR | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 15.4% | 17.3% | VBR | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −61.3% | −72.5% | VBR | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.44 | 0.33 | VBR | Return above Treasury bills per unit of volatility. |
| Sortino | 0.62 | 0.48 | VBR | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.15 | 0.10 | VBR | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,150 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, VBR and VNQ hold 10% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026.
half
10% in common
Only in one fund ↓
Side by side
VBR and VNQ on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
VBR and VNQ do different jobs. What does each one do in a portfolio?
- What each follows. VBR follows Morningstar US Small Cap Value Index and VNQ follows MSCI US Investable Market Real Estate 25/50 Index.
- Holdings in common. 10% of the weight is in the same securities (holdings dated Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 VBR returned +17.6% and VNQ +4.8% with distributions reinvested, a gap of 12.8 points.
Data as of Oct 28, 2026.
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VBR
VBR tracks an index of Small-Cap Value. Over the year to Oct 28, 2026 it returned +17.6% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 30% of the fund by weight is stocks the S&P 500 also holds, across 822 positions, with the top ten at 5.9%. It sat 3.9% below its high of Aug 14, 2026 on Oct 28, 2026.
VNQ
VNQ tracks an index of US real estate. Over the year to Oct 28, 2026 it returned +4.8% with distributions reinvested. The prospectus expense ratio is 0.13% a year. By its holdings published by its issuer as of Sep 30, 2026, 63% of the fund by weight is stocks the S&P 500 also holds, across 141 positions, with the top ten at 55.8%. It sat 8.3% below its high of Jul 28, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, VBR or VNQ?
- In the year to Oct 28, 2026, with distributions reinvested, VBR returned +17.6% and VNQ +4.8%.
- Which is cheaper, VBR or VNQ?
- VBR is cheaper, by 0.08 percentage points a year. That is about $8 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Cite this pageCitation, APA and Markdown
ETFIQ, VBR against VNQ, data as of Oct 28, 2026. https://etfiq.com/compare/any/vbr-vs-vnq
ETFIQ. (Oct 28, 2026). VBR against VNQ. Retrieved from https://etfiq.com/compare/any/vbr-vs-vnq
[VBR against VNQ (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/vbr-vs-vnq)
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